Germans and Swiss in tax deal

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Germany and Switzerland have finally reached a deal to try and stop cross-border tax evasion from 2013. The nations have agreed to crack down on German citizens stashing money in Swiss accounts without being taxed, putting an end to a long-running dispute. Germans will be offered the chance to make an anonymous one-off tax payment before the rules come into effect. But some banks, including Swiss private bank Vontobel, complained that the move will slow their cross-border growth. A formal deal will be signed within weeks.